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Crude Oil Brent Jul '23 (CBN23)

72.66s -0.88 (-1.20%) 05/31/23 [ICE/EU]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Wed, May 31st, 2023
Day Low
71.39
Day High
73.81
Open 73.60
Previous Close 73.54 73.54
Volume 20,107 20,107
Open Interest 92,608 92,608
Relative Strength 38.01% 38.01%
Weighted Alpha -26.87 -26.87
5-Day Change -5.70 (-7.27%) -5.70 (-7.27%)
52-Week Range 70.10 - 103.60 70.10 - 103.60
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Crude Oil Brent Futures Market News and Commentary

Crude Oil Closes Lower Ahead of Trump-Putin Summit

September WTI crude oil (CLU25) on Friday closed down -1.16 (-1.81%), and September RBOB gasoline (RBU25) closed down -0.00329 (-1.56%).

Crude oil prices during Friday's futures session were on the defensive ahead of the afternoon Trump-Putin summit, which began after the futures markets settled.

Before the summit, President Trump said he would proceed with high tariffs on countries that buy Russian oil if President Putin did not agree to a ceasefire, which would further reduce Russian oil exports and tighten the global oil market.  Mr. Trump has sounded progressively more hawkish this week about today's summit.  On the other hand, if there is progress at today's summit, then Mr. Trump may refrain from new tariffs or sanctions and may even reduce sanctions on Russian oil.

Oil prices showed weakness earlier this week due to bearish oil surplus outlooks issued by the EIA and IEA.  The International Energy Agency (IEA) on Wednesday released a report forecasting a reco... Read more

Contract Specifications

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Contract
Brent Crude Oil
Contract Size
42,000 U.S. Gallons
Tick Size
1 cent per barrel ($10.00 per contract)
Trading Hours
8:00p.m. - 6:00p.m. (EST)
Exchange
ICE/EU
Point Value
$1,000
Margin/Maintenance
$6,765/6,150
First Notice Date
05/31/23
Expiration Date
05/31/23 (expired)

Seasonal Chart

Crude Oil Brent Jul '23
Average Price Chart for 5 Prior Jul Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
71.28 +1.94%
on 05/04/23
Period Open: 80.33
80.24 -9.45%
on 05/01/23
-7.67 (-9.55%)
since 04/28/23
3-Month
70.10 +3.65%
on 03/20/23
Period Open: 82.33
86.90 -16.39%
on 04/12/23
-9.67 (-11.75%)
since 02/28/23
52-Week
70.10 +3.65%
on 03/20/23
Period Open: 96.63
103.60 -29.86%
on 06/09/22
-23.97 (-24.81%)
since 05/27/22

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Crude Oil Closes Lower Ahead of Trump-Putin Summit

September WTI crude oil (CLU25 ) on Friday closed down -1.16 (-1.81%), and September RBOB gasoline (RBU25 ) closed down -0.00329 (-1.56%). Crude oil prices during Friday's futures session were on the defensive...

CLV25 : 61.98s (-1.67%)
RBV25 : 1.9087s (-1.66%)
Crude Oil Lower Ahead of Today's Trump-Putin Summit

September WTI crude oil (CLU25 ) is down -0.71 (-1.11%), and September RBOB gasoline (RBU25 ) is down -0.0244 (-1.16%). Crude oil prices are on the defensive ahead of today's Trump-Putin summit, which...

CLV25 : 61.98s (-1.67%)
RBV25 : 1.9087s (-1.66%)
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Crude Oil Rallies Ahead of Friday's Trump-Putin Summit

September WTI crude oil (CLU25 ) on Thursday closed up +1.31 (+2.09%), and September RBOB gasoline (RBU25 ) closed up +0.0388 (+1.87%). Crude oil prices on Thursday rallied on some short-covering ahead...

CLV25 : 61.98s (-1.67%)
RBV25 : 1.9087s (-1.66%)
Nat-Gas Prices Consolidate Above Wednesday's 9-Month Low

September Nymex natural gas (NGU25) on Thursday closed up +0.013 (+0.46%). Sep nat-gas prices on Thursday recovered a bit from Wednesday's 9-month nearest-futures low. Thursday's weekly EIA nat gas inventory...

Are Crude Oil Prices Going Much Lower?

Nearby NYMEX crude oil prices fell to the 2025 low of $55.12 per barrel in April, following the U.S. announcement of unprecedented tariffs on its trading partners worldwide. However, the turmoil in the...

USO : 72.80 (-1.27%)
UCO : 22.26 (-2.02%)
BNO : 29.45 (-1.24%)
CLU25 : 62.80s (-1.81%)
SCO : 17.91 (+1.94%)
Crude Oil Rallies Ahead of Friday's Trump-Putin Summit

September WTI crude oil (CLU25 ) today is up +1.07 (+1.71%), and September RBOB gasoline (RBU25 ) is up +0.0377 (+1.82%). Crude oil prices today are sharply higher on some short-covering ahead of Friday's...

CLV25 : 61.98s (-1.67%)
RBV25 : 1.9087s (-1.66%)
Wheat Sneaking Higher to Start Friday

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KEZ25 : 528-4s (+0.48%)
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ZSPAUS.CM : 9.7673 (+1.29%)
ZLZ25 : 53.23s (+2.11%)
ZMZ25 : 294.5s (-0.17%)
ZSX25 : 1042-4s (+1.36%)
ZSU25 : 1022-2s (+1.46%)
ZSX25 : 1042-4s (+1.36%)
ZSPX25US.CM : 9.7152 (+1.36%)
Wheat Closes with Weakness on Thursday

The wheat complex fell back lower on Thursday, closing with weakness across all three markets. CBT soft red wheat futures were down 3 to 4 cents on the day. KC HRW futures posted 2 to 2 ½ cent losses...

KEZ25 : 528-4s (+0.48%)
KEU25 : 507-0s (+0.55%)
MWU25 : 5.7000s (-0.35%)
ZWU25 : 506-4s (+0.60%)
ZWZ25 : 527-0s (+0.48%)
Corn Closes with Mixed Trade on Thursday

Corn bulls fought off the weakness on Thursday, as contracts closed with nearbys within a penny of unchanged. The CmdtyView national average Cash Corn price was up 3/4 cent at $3.57 1/4. USDA reported...

ZCZ25 : 405-2s (+2.01%)
ZCZ25 : 405-2s (+2.01%)
ZCU25 : 383-6s (+2.33%)
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ZCPAUS.CM : 3.6566 (+2.39%)
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Grain technicals

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ZSX25 : 1042-4s (+1.36%)
ZCU25 : 383-6s (+2.33%)
ZWZ25 : 527-0s (+0.48%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 76.27
2nd Resistance Point 75.04
1st Resistance Point 73.85
Last Price 72.66s
1st Support Level 71.43
2nd Support Level 70.20
3rd Support Level 69.01

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52-Week High 103.60
Fibonacci 61.8% 90.80
Fibonacci 50% 86.85
Fibonacci 38.2% 82.90
Last Price 72.66s
52-Week Low 70.10

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